Tesla warns Trump about risks of retaliatory tariffs
Tesla, led by Elon Musk, has expressed concerns about retaliatory tariffs in a letter to the U.S. Trade Representative. The letter highlights that U.S. exporters face significant risks when other countries respond to U.S. trade actions. The letter, dated March 11, emphasizes the need for the U.S. Trade Representative to consider the impact of tariffs on American exports. Tesla noted that previous tariffs have increased costs for U.S.-made vehicles and made them less competitive internationally. This development follows President Trump's recent tariff impositions on Canada, Mexico, and China, which have led to retaliatory measures. The letter coincided with a public appearance where Trump announced plans to buy a Tesla, despite Tesla's stock dropping significantly since he took office.